DFI-SB 22.08(4)(a)1.1. Issue fractions of a share or pay in money the value of fractions of a share. DFI-SB 22.08(4)(a)3.3. Issue scrip in registered or bearer form entitling the holder to receive a full share on the surrender of enough scrip to equal a full share. DFI-SB 22.08(4)(b)(b) A certificate representing scrip shall be conspicuously labeled “scrip” and shall contain the terms of exchange for a full share and the information required by sub. (9), except that it may state that it is issued to bearer. DFI-SB 22.08(4)(c)(c) The holder of a fractional share may exercise the rights of a shareholder including the right to vote, to receive dividends and to participate in the assets of the savings bank upon liquidation. The holder of scrip is not entitled to the rights described in this subsection unless the scrip provides for them. DFI-SB 22.08(4)(d)(d) The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including: DFI-SB 22.08(4)(d)1.1. The scrip will become void unless exchanged for full shares before a specified date. DFI-SB 22.08(4)(d)2.2. The shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders. DFI-SB 22.08(5)(a)(a) The powers granted to the board of directors in pars. (b) to (e) may be reserved to the shareholders by the articles of incorporation. DFI-SB 22.08(5)(b)(b) The board of directors may authorize issuance of shares for consideration consisting of any tangible or intangible property or benefit to the savings bank, including cash, promissory notes, services performed, contracts for services to be performed, or other securities of the savings bank. DFI-SB 22.08(5)(c)(c) Before the savings bank issues shares, the board of directors shall determine that the consideration received or to be received for the shares to be issued is adequate. The board of directors’ determination is conclusive insofar as the adequacy of consideration for the issuance of shares relates to whether the shares are validly issued, fully paid and nonassessable. DFI-SB 22.08(5)(d)(d) When the savings bank receives the consideration for which the board of directors authorized the issuance of shares, the shares issued for that consideration are fully paid and nonassessable. DFI-SB 22.08(5)(e)(e) The savings bank may place in escrow shares issued for a contract for future services or benefits or a promissory note, or make other arrangements to restrict the transfer of the shares, and may credit distributions in respect of the shares against their purchase price, until the services are performed, the benefits are received or the note is paid. If the services are not performed, the benefits are not received or the note is not paid, the corporation may cancel, in whole or in part, the shares escrowed or restricted and the distributions credited. DFI-SB 22.08(6)(a)(a) A purchaser from a savings bank of the savings bank shares is not liable to the savings bank or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued. DFI-SB 22.08(6)(b)(b) Unless otherwise provided in the articles of incorporation, a shareholder of a savings bank is not personally liable for the acts or debts of the savings bank, except that a shareholder may become personally liable by his or her acts or conduct other than as a shareholder. DFI-SB 22.08(7)(a)(a) In this section, “share dividend” means shares issued proportionally and without consideration to the savings bank’s shareholders or to the shareholders of one or more classes or series. DFI-SB 22.08(7)(b)(b) Except as provided by ch. 214, Stats., in par. (c) or the articles of incorporation a savings bank may issue share dividends. DFI-SB 22.08(7)(c)1.1. A savings bank may not issue shares of one class or series as a share dividend in respect of shares of another class or series unless: the articles of incorporation authorize the issuance; a majority of the votes entitled to be cast by the class or series to be issued approve the issuance; or there are no outstanding shares of the class or series to be issued, as determined under subd. 2. DFI-SB 22.08(7)(c)2.2. For purposes of this paragraph, if a security is outstanding that is convertible into or carries a right to subscribe for or acquire shares of the class or series to be issued, the holder of the security is considered a holder of the class or series to be issued. DFI-SB 22.08(7)(d)(d) If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, it is the date on which the board of directors authorizes the share dividend. DFI-SB 22.08(8)(8) Share rights, options and warrants. Unless the articles of incorporation provide otherwise before the issuance of rights, options or warrants, a savings bank may issue rights, options or warrants for the purchase of shares of the savings bank. The rights, options or warrants may contain provisions that adjust the rights, options or warrants in the event of an acquisition of shares or a reorganization, merger, share exchange, sale of assets or other occurrence. Subject to the articles of incorporation, the board of directors shall determine the terms on which the rights, options or warrants are issued, their form and content, and the consideration for which the shares are to be issued. Notwithstanding any other provision of this section, and unless otherwise provided in the articles of incorporation before issuance of the rights, options or warrants, a savings bank may issue rights, options or warrants that include conditions that prevent the holder of a specified percentage of the outstanding shares of the savings bank, including subsequent transferees of the holder, from exercising those rights, options or warrants. DFI-SB 22.08(9)(a)1.1. The name of the issuer and that the issuer is organized under the laws of this state;